Finance Minister Bill Morneau resigns, plans to run for head of OECD

Bill Morneau is resigning as the federal minister of finance and a Liberal MP. Morneau says he is putting his name forward as a candidate to be the next secretary general of the Organization for Economic Co-operation and Development.

Prime Minister Justin Trudeau says he accepted Morneau's resignation earlier Monday and that Canada would ``vigorously support'' his efforts to take on the new role.

Morneau has been finance minister since 2015, when the Liberals returned to power.

For several weeks, opposition parties have been calling for Morneau's resignation over allegations that he had a conflict of interest in the WE Charity affair.

Morneau and Trudeau are both facing investigations by the federal ethics watchdog.